Marc Faber – Capitalism is Failing and Its Successor Will Be Socialism

Silver Bullion TV, Released on 12/23/21

SBTV spoke with Dr Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, about his outlook for 2022. Dr Faber observes that free-market capitalism has been relentlessly attacked to the point of failure and believes it will be succeeded by socialism.

Discussed in this interview:
00:00 Introduction
02:03 “Capitalism will fail!’
08:42 Eaten from inside
14:05 A victim of its own success
17:21 Major stock indices to fall
19:18 The Fed’s coming taper
22:21 Situation with the US debt limit
26:31 Central bank criminals
31:46 Gold under socialism

Dr. Marc Faber was born in Zurich, Switzerland and obtained a PhD in Economics at the University of Zurich. Between 1970 and 1978, Dr. Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In 1990, he set up his own business, Marc Faber Limited which acts as an investment advisor and fund manager. Dr. Faber publishes a widely read monthly investment newsletter, “The Gloom Boom & Doom Report,” which highlights unusual investment opportunities, and is the author of several books including Tomorrow’s Gold: Asia’s age of discovery which was a best seller on Amazon. Dr. Faber is known for his “contrarian” investment approach and charismatic personality. He became infamous after calling the 1987 crash in US equities.

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